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CNN
Mar 3, 2011 8:00pm EST
near the level in terms of debt that's going to make us fall off a cliff. japan has just added -- had itself sovereign debt downgraded by two of the three ratings agency. they're still a prosperous country. i value his intelligence and his knowledge, but he's just wrong here. >> that's nice to hear. let me push back a little bit. you're clearly right. the total size of our economy, gdp, will be second to china in a number of years. almost inevitably. but per capita gdp which is perhaps more important, how much wealth is generated for each person? you're right, it will be larger than theirs, that's the good news. aren't we losing the nej terms of capacity to enzo straight and produce so that more -- increasingly wealth creation is traveling to asia? whether it's china, vietnam, even to latin america, whether it's central america or brazil? >> well, they have a high labor -- highly skilled, highly mobile, highly motivated labor force in those countries. they're acquiring a lot of education and human capital. adam smith said that the true wealth of nations was in the intelligence, energy
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